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Cash settlement, payable on the first exchange day following the Final Settlement Day.

Contract Values, Price Gradations and Contract Months

Contract

Contract Value

Minimum Price Change

Contract Months

Points

Value

DAX® Options

EUR 5

0.1

EUR 0.50

60

DivDAX® Options

EUR 200

0.01

EUR 2

24

MDAX® Options

EUR 5

0.1

EUR 0.50

24

TecDAX® Options

EUR 10

0.1

EUR 1

24

Up to 24 months:The three nearest successive calendar months, the three following quarterly months of the March, June, September and December cycle thereafter, and the two following semi-annual months of the June and December cycle thereafter.

Up to 60 months: The three nearest successive calendar months, the three following quarterly months of the March, June, September and December cycle thereafter, the four following semi-annual months of the June and December cycle thereafter and the two following annual months of the December cycle thereafter.

Last Trading Day and Final Settlement DayLast Trading Day is the Final Settlement Day.

Final Settlement Day is the third Friday of each expiration month if this is an exchange day; otherwise the exchange day immediately preceding that day.

Close of trading in the expiring option series on the Last Trading Day is at the beginning of the Xetra® intraday auction starting at 13:00 CET (for MDAX® Options at 13:05 CET).

Daily Settlement PriceThe Daily Settlement Price is established by Eurex. The Daily Settlement Prices for equity index options (as well as Weekly Options) are determined through the Black/Scholes 76 model. If necessary, dividend expectations, current interest rates or other payments are taken into consideration.

Final Settlement PriceThe Final Settlement Price is established by Eurex on the Final Settlement Day of the contract and is determined by the value of the respective index, based on Xetra® auction prices of the respective index component shares. The intraday auction starts at 13:00 CET (for MDAX® component shares at 13:05 CET).

ExerciseEuropean-style; an option can only be exercised on the Final Settlement Day of the respective option series until the end of the Post-Trading Full Period (20:30 CET).

Exercise Prices

Contract

Exercise Price Intervals in Index Points for Contract Months with a Remaining Lifetime of

≤ 3 months

4-12 months

13-24 months

25-36 months

> 36 months

DAX® Options

50

50

100

200

200

DivDAX® Options

5

5

10

-

-

MDAX® Options

100

2000

400

-

-

TecDAX® Options

10

20

40

-

-

Number of Exercise Prices

Upon the admission of the options, at least seven exercise prices shall be made available for each due date with a term of up to 24 months for each call and put, such that three exercise prices are in-the-money, one is at-the-money and three are out-of-the-money.

Upon the admission of the options, at least five exercise prices shall be made available for each due date with a term of more than 24 months for each call and put, such that two exercise prices are in-the-money, one is at-the-money and two are out-of-the-money.

Option PremiumThe equivalent of the premium in points, payable in full in the currency of the respective contract on the exchange day following the day of the trade.

Block Trades

Admitted to the Eurex Block Trade Service with a Minimum Block Trade Size of 500 contracts.

Parameters

Maximum Spreads

Bid up to (index points)

Maximum Spread (index points)

0 - 25

2

25 - 300

8%

> 300

24

For the last two expiration months in the maturity range, the Maximum Spread is increased by 100 percent for permanent quotation as well as for responses to quote requests for all options with 6 or more expiration months.

Minimum Quote Size

50 contracts on the bid and ask side.

The minimum quote duration is 85 percent of the trading hours between 09:00 and 17:30 CET(on a monthly average). The first eight contract months have to be quoted.

AMM Package ID

Mistrade Ranges

For equity and equity index options, mistrade parameters will be doubled on the last trading day.

Mistrade ranges are doubled for expiries that are equal to or greater than the value displayed in the corresponding CSV file.

For the transactions in option contracts accomplished during a Stressed Market period, the mistrade ranges reduplicate.

Crossing Parameters

(section 2.6 Eurex Trading Conditions)

(1) Orders and quotes relating to the same instrument or combined instrument may, in case they could immediately be executed against each other, neither be entered knowingly by an Exchange Participant (a cross trade) nor pursuant to a prior understanding by two different Exchange Participants (a pre-arranged trade), unless the conditions according to Paragraph 3 have been fulfilled. The same shall apply for the entry of orders as part of a quote.

(2) An Exchange Participant may submit a description of his internal and external links to the EDP system of Eurex Deutschland to the Market Surveillance Office of Eurex Deutschland with a view to a decision on whether the Exchange Participant acted knowingly within the meaning of Paragraph 1. The details of the specifications of the description of the IT linkage pursuant to Sentence 1 shall be determined by the Surveillance Office of Eurex Deutschland in agreement with the Management Board of Eurex Deutschland.

(3) A cross trade or a pre-arranged trade is admissible if a participant in a cross-trade or a pre-arranged trade, prior to entering his order or quote into the EDP system of Eurex Deutschland, announces his intention to execute a corresponding number of contracts as cross-trades or pre-arranged trades in the order book (“cross request”). The order or quote giving rise to the cross trade or pre-arranged trade must be entered one second at the earliest and 61 seconds at the latest with regard to Money Market Futures contracts, Fixed Income Futures contracts, options on Money Market Futures contracts and options on Fixed Income Futures contracts, respectively 31 seconds at the latest with regard to all other futures and option contracts after having entered the cross request. The purchasing Exchange Participant shall bear the responsibility for compliance with the content of the cross request entry. Entering a cross request without subsequently entering the respective order or quote is not admissible.

(4) Paragraphs 1 and 3 shall not apply to transactions consummated during the netting process in an auction (Number 1.4 Paragraphs 2 and Paragraph 3).

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We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.

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